living and working in london - uk

Living and Working in the UKJames Smith

Introduction

Associate Director on Finance Temporary and Contract Banking• Seven years’ experience in accounting recruitment in the London

market.

Agenda:• Living in London• London jobs market• Clients – financial services and industry & commerce• Testimonials from those that have been and done it• Cost of living

Living in London

• If London was a country, it would be the eighth largest in Europe (in population) but you will still bump into people you know!

• There are more than 32,000 music performances a year in London – 621 a week, 17% of which are free!

• London has 40,000 listed buildings and over 150 ancient monuments.

• London has four UNESCO world heritage sites: Tower of London, Maritime Greenwich, Westminster Palace, Kew’s Royal Botanic Gardens.

• There are over 5,000 restaurants in London!

London jobs market

Jobs• Between 1,200 – 1,500 banking accounting jobs recruited each year.

• Between 800 – 1,000 commerce and industry accounting jobs recruited each year.

Salaries• A recently qualified accountant from practice will obtain between £225 – £270 per day / £45k - £55k per annum base salary.

• With 12 months’ industry experience, you should be able to obtain on average £300 - £320 per day / £50 – £65k per annum depending on the job role.

Commerce & industry clients

Financial services clients

After qualifying in PWC from audit with clients like GSK and EMC, I decided that I wanted to move aboard but stay close to home so London was an ideal option! Upon arriving, the contract market was busy and within two weeks I secured a six month contract at £250 per day working for HSBC, it was a great role and I still keep in touch with the friends I made. I then decided to call Morgan McKinley as I wanted a change and I’m now working in a major fashion company.Louise, Cork

I qualified in KPMG tax team in 2010 and I wanted more opportunities and to work in a global banking organisation. I arrived in a relatively quiet market and managed to secure interviews relatively quickly and started a job paying £58k base one month after arriving. Having gained such wide exposure in the office whilst exploring, London was a great choice and I highly recommend it.Hazel, Dublin

Testimonials (if you choose to include these)

Tax in the UK

Rate 2010-11 2011-12 2012-13

Basic rate: 20% Up to £37,400 Up to £35,000 Up to £34,370

Higher rate: 40% £37,401- £150,000 £35,001- £150,000 £34,371- £150,000

Approx. 75% of contractors via Morgan McKinley will operate through a Limited Company, there are a number of different versions. Expect to pay on average 25% tax on your entire earnings.

Cost of living

• Average rent for a two bed is between £300 - £350 per week.

• A shared house is between £500 - £600 per room in a popular area of London.

• Monthly tube pass (zone 1 & 2) is £112.

• A pint of beer is between £2.50 - £3 / Average bottle of wine is £10.

• Meal for two in moderately priced restaurant is £40.

• Flight to Dublin (return) is £50 - £100, depending on when you book.(A quick ask around the office here in London and lowest came in at 9p!).

Thank you, Any questions?

James Smith (Financial services)Associate DirectorContact details:E-Mail: jsmith@morganmckinley.co.ukPhone: 0207 092 0061

Mary O’Flynn (Financial services)Senior ConsultantContact details:E-Mail: moflynn@morganmckinley.co.ukPhone: 020 7092 0060

Liz Wood (Industry and commerce)Senior ConsultantContact details:E-Mail: lwood@morganmckinley.co.ukPhone: most appropriate contact number